Seaport Global Securities Comments on Spirit AeroSystems Holdings, Inc.’s Q1 2018 Earnings (SPR)
Spirit AeroSystems Holdings, Inc. (NYSE:SPR) – Investment analysts at Seaport Global Securities boosted their Q1 2018 earnings per share estimates for shares of Spirit AeroSystems in a report released on Thursday. Seaport Global Securities analyst J. Sullivan now expects that the aerospace company will post earnings per share of $1.52 for the quarter, up from their prior estimate of $1.31. Seaport Global Securities currently has a “Buy” rating and a $120.00 price objective on the stock. Seaport Global Securities also issued estimates for Spirit AeroSystems’ Q1 2019 earnings at $1.79 EPS, Q2 2019 earnings at $1.86 EPS, Q3 2019 earnings at $2.02 EPS, Q4 2019 earnings at $2.09 EPS and FY2019 earnings at $7.74 EPS.
Several other equities research analysts also recently issued reports on SPR. Citigroup reaffirmed a “buy” rating and set a $85.00 price target on shares of Spirit AeroSystems in a report on Tuesday, September 26th. Jefferies Group raised their price target on Spirit AeroSystems from $84.00 to $90.00 and gave the company a “buy” rating in a report on Thursday, September 28th. Cowen reaffirmed an “outperform” rating and set a $88.00 price target (up previously from $79.00) on shares of Spirit AeroSystems in a report on Thursday, September 28th. Canaccord Genuity reaffirmed a “buy” rating and set a $86.00 price target (up previously from $80.00) on shares of Spirit AeroSystems in a report on Thursday, September 28th. Finally, Buckingham Research raised their price target on Spirit AeroSystems from $53.00 to $66.00 and gave the company a “neutral” rating in a report on Thursday, September 28th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. Spirit AeroSystems has an average rating of “Buy” and a consensus price target of $87.78.
Spirit AeroSystems (NYSE:SPR) last announced its quarterly earnings results on Wednesday, November 1st. The aerospace company reported $1.26 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.26. Spirit AeroSystems had a return on equity of 31.14% and a net margin of 4.98%. The business had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.74 billion. During the same quarter last year, the firm posted $1.16 EPS. The company’s quarterly revenue was up 2.2% on a year-over-year basis.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Livforsakringsbolaget Skandia Omsesidigt bought a new position in shares of Spirit AeroSystems in the fourth quarter worth $166,000. Nine Chapters Capital Management LLC bought a new position in shares of Spirit AeroSystems in the third quarter worth $218,000. Quantitative Systematic Strategies LLC bought a new position in shares of Spirit AeroSystems in the third quarter worth $227,000. Commonwealth Equity Services Inc bought a new position in shares of Spirit AeroSystems in the third quarter worth $228,000. Finally, Invictus RG increased its position in shares of Spirit AeroSystems by 54.5% in the third quarter. Invictus RG now owns 3,300 shares of the aerospace company’s stock worth $256,000 after purchasing an additional 1,164 shares during the period. Institutional investors own 96.18% of the company’s stock.
In other Spirit AeroSystems news, SVP Duane F. Hawkins sold 5,000 shares of the stock in a transaction on Monday, November 6th. The stock was sold at an average price of $83.04, for a total transaction of $415,200.00. Following the transaction, the senior vice president now owns 39,374 shares in the company, valued at approximately $3,269,616.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robert D. Johnson sold 500 shares of the stock in a transaction on Friday, December 1st. The stock was sold at an average price of $84.13, for a total value of $42,065.00. Following the transaction, the director now owns 1,964 shares in the company, valued at approximately $165,231.32. The disclosure for this sale can be found here. 0.28% of the stock is owned by company insiders.
The company also recently disclosed a quarterly dividend, which was paid on Monday, January 8th. Shareholders of record on Monday, December 18th were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.41%. The ex-dividend date was Friday, December 15th. Spirit AeroSystems’s payout ratio is 14.08%.
About Spirit AeroSystems
Spirit AeroSystems Holdings, Inc is a non-original equipment manufacturer (OEM), aircraft parts designer and manufacturer of commercial aero-structures. The Company is also a supplier of aero-structures. The Company operates through three segments: Fuselage Systems, Propulsion Systems and Wing Systems.
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